If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    HDFC Car Loan Eligibility Calculator

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    New cars

    Employment Minimum age Maximum age at the end of loan tenure Work experience Minimum annual income Minimum turnover Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

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    Employment Minimum age Maximum age at the end of loan tenure Work experience Minimum annual income Minimum turnover Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    thead>
    Employment Minimum age Maximum age at the end of loan tenure Work experience Minimum annual income Minimum turnover Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

    Car Loan Reviews

    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with HDFC bank previously,they gave me loan amount based on the vehicle price,and the rate of interest they have charged me was nominal,and even they have charged me processing fee which was okay,now i have closed this loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 23, 2019
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The loan amount was satisfactory, I pay an EMI on time. The tenure period is for good . Overall it was a very good loan experience e with the HDFC .It was a super fast loan experience. I took a car Loan from the HDFC BANK . The whole loan process was easy and super fast.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 23, 2019
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my car loan with HDFC bank for an while,The loan amount which they have given me was sufficient,they have given me loan on basis of my requirement,and the rate of interest they have charged me nominal, and the processing fee they have charged or not i have no idea,still this loan is running.
      Was this review helpful? 2
      , chennai
      Reviewed on Mar 15, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this Car loan a long time back and the experience i had with them was quite good. The loan amount was sufficient and the interest rate with them has been nominal as well. There has not been any extra charges which they had made and the customer support team of them has been helpful.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Mar 14, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan a long time back and the process in getting this loan was pretty good. The loan amount which they had provided was sufficient and the interest rate with them has been quite nominal as well. Even their customer support team has been pretty much helpful.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 12, 2019
    • HDFC Bank Car Loan
      "easy disbursement"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from Hdfc Bank. The loan amount was Rs. 4 lakhs. They have provided door step service for the documentation collection its really good. They Have disbursed the loan amount to the dealer on committed on time.I am happy with the rate of interest 9.40%. I have taken a car model Tata Tigior xt.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Mar 11, 2019
    • HDFC Bank Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan a long time and it was offered through my company. The process in getting the loan was pretty easy and the loan amount which they had provided was sufficient. The interest rate and the charges with them has been as per the market rate and they had not taken any extra charges.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 11, 2019
    • HDFC Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with HDFC bank.The loan amount which they have charged me was sufficient,and the rate of interest they have charged me was nominal , like they have charged me which was nominal, and they have charged me processing fee or not i do not remember now.
      Was this review helpful? 0
      , guwahati
      Reviewed on Mar 11, 2019
    • HDFC Bank Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have previously taken the car loan with the HDFC BANK but the documentations was too much and the process of getting the car loan was good. They have provided the loan amount which was nominal added on that the rate of interest was nominal with this loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 10, 2019
    • HDFC Bank Car Loan
      "Good comfortable loan"
      0.5 4.0/5 "Great!"
      I find it a big Communication gap between me and HDFC customer care people .When i applied for a car loan in HDFC. They took a little extra days rather than normal time for sanctioning . I purchased the HYUNDAI EON 2017 model .Rate Of Interest is very comfortable,
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 09, 2019
    • HDFC Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      my experience was good with HDFC four wheeler insurance. I opened last 6 month my four wheeler and no claim just now i am not aware the premium amount for this insurance there is no claim experience so for and i am happy with hdfc insurance for my four wheeler.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Mar 08, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan was quite good and the process did not took much time as well. The loan amount which they had provided has been sufficient and the interest rate with them has been nominal when compared with the other banks. There has not been any sort of extra charges which they had made as well.
      Was this review helpful? 0
      , new delhi
      Reviewed on Mar 08, 2019
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had previously taken my car loan with HDFC bank ,now i have done top up with other bank, The loan which they have given me was sufficient, and the rate of interest they have charged me was nominal, and the processing fee they have charged me was nominal.Their service was good.
      Was this review helpful? 0
      , pune
      Reviewed on Mar 08, 2019
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I was in a need of car loan and I had applied with HDFC Bank. The application was processed on a quick note. Earlier there was a delay as I have submitted the documents. The bank had sanctioned my loan in few days. The rate of interest is fine and compare to other banks its reasonable.
      Was this review helpful? 0
      , sibsagar
      Reviewed on Mar 07, 2019
    • HDFC Bank Car Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan in HDFC BANK and it was preclosed. They are charged 3% on the outstanding principal amount and the process was simple. The charges are good and nominal. I have purchased a Datsun Goplus and made some down payment remaining 90% was provided by the bank. The document procedure was simple.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 07, 2019
    • HDFC Bank Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan a very long time back and the services of them has been pretty good. The disbursement happened pretty soon and the loan amount provided by them was as per the requirement. But the interest rate with them has been pretty high and they had also been making some charges, i suggest them to reduce the interest rate.
      Was this review helpful? 1
      , jamnagar
      Reviewed on Mar 07, 2019
    • HDFC Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from HDFC Bank and the procedure was very simple. I am paying the loan emi for the past 4 years. The interest rate is affordable and the service was quick. The process was the easiest. When I have applied for the loan initially they said they have required a salary account and later they have opened a current account. They have credited the loan amount which was lesser than the required amount, due to which I had to make some down payment to purchase the car.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 07, 2019
    • HDFC Bank Car Loan
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan with HDFC bank.The loan amount was sufficient. Based on the vehicle they have given me the loan. The rate of interest they have charged me was nominal and it is as per the market value they charged me, even they have charged me processing fee that too was nominal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 07, 2019
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I took a car loan from the HDFC bank . The whole process was easy and hassle free. The loan was applied at the showroom and was processed with in 2 days. The loan amount they have given me up to 3,00,000 .the rate of interest they have charged me up to 9.5% which was nominal.The documentation was also very smooth. Overall it has been a smooth car loan experience with the HDFC bank.Still this loan is running.
      Was this review helpful? 1
      , mohali
      Reviewed on Mar 02, 2019
    • HDFC Bank Car Loan
      "Need to reduce the interest rate"
      0.5 2.0/5 "Expected more"
      Am having a car loan and the interest rate was around 14% which was very high compared to other bank and am not satisfied. I never contacted the customer service. The process was not faster and there was no processing fee. The loan duration is 4 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 02, 2019
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